Thinking of getting into business with Pro Trades? Here is what you must know about this broker. Carefully read this review to find out if protrades.io is the trading platform you will want to trade with.
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About Pro Trades Broker
Pro Trades is an offshore brokerage company with a lot of promises for traders. The broker presents us with an address with the location in UK.
Pro Trades claims to provide transparent trading standards and low commissions. Here, the broker’s account types are Standard, Premium and VIP.
In spite the trading instruments Pro Trades claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
protrades.io: Reasons to Avoid This Broker
protrades.io is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as Financial Conduct Authority (FCA) does not recognize Pro Trades.
Another red flag we noticed on protrades.io is that there is no demo account for traders. If traders can’t test Pro Trades broker on a free account, how then can we know its viability in the forex market.
Since this broker does not offer money back guarantee, trading on any account type is clearly a risk. This is a big warning for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Pro Trades presents us with the following information. Here, forex traders are charged $50 for wire transfers and $25 for Credit cards($10 included for processing fee)
Minimum Deposit
The minimum deposit of Pro Trades is indicated €250 .
The payment method on protrades.io are Debit/Credit card and Wire Transfer. You should not consider making any payment with this broker in the first place because it is a risk. So beware!
Pro Trades Platform
Pro Trades operates a Web based Trading platform. The refusal to make use of industry standard such as MT4 or MT5 that are widely accepted for trading is one of the reasons you should avoid this broker.
Pro Trades leverage is 1:10 to 1:500. It is advisable you don’t consider doing that with an unregulated broker like this one. In fact, it is against the financial regulatory leverage.
In spite the attractive offers Pro Trades broker presents, we can’t find a free account for traders to test the platform before considering a deposit.
Pro Trades Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under FCA regulation that means your money is at risk. Its licensed and regulation claims are false and must be avoided.
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Conclusion: Is protrades.io a Reliable Broker?
protrades.io does not seem like a reliable broker for traders even though it promises offers that look good to be true.
The broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.